All Forum Posts by: Shane Gaboury

Hey! Congratulations on the savings! That is exciting! Not having a commute is huge. A lot of this will depend on your goals longer term. Schools play a big part in the cost and appreciation of homes in those areas. There are also new home options as well if you wanted something particularly nice. The starting point would be what is your price point? What is your preferred criteria for your home and what are you goals? 

Shane Gaboury 

I’d like to hear from those 40+ years of age who’ve paid down principal fast vs those who used leverage and whether they’re happy they chose that route or they regret it. Hindsight is always 20/20 and I’d like the hear their opinion as to why they chose their route and if they’d do anything differently. Thanks in advance!

Hey!! That is super exciting! I’m an agent and Investor doing about 2-3 flips a year and have a few rentals as well! I’m happy to chat and give advice when needed feel free to message me if interested for advice or guidance!

Jessica, I’m happy to help you out. I have one rental and and partner has 7 in northern Virginia. Let me know a time in the next two weeks that work for you so we can chat

I have one rental in nova and that was by getting a property 30-40k under market value. It’s definitely possible to find, but you have to find the property far below fair market value. Even then I put 25% down to get $200 a month in cash flow. It’s possible but it is not easy to find.

Thanks for the words, I appreciate that! I’ll keep an eye out for it. In my area, it is difficult to find something affordable that isn’t a condo in my area I will look though.

Thanks for all of the input. Fair enough, so as opposed to putting a large down payment in my area near Washington D.C. To lower the monthly payment, I am better off driving 45 mins to an hour away and finding something with better cash flow?

What are your thoughts on putting 30-40% down on a property to get it to cash flow. If you are in a city that doesn't get great cash flow? I understand I won't get a great roi, but my goal is longterm wealth and cash flow in the future as opposed to today. 

Thoughts?

Hey guys and girls,

I have a quick question for you all. I live in a condo and the unit above me happened to have a leak, after speaking with the landlord, I received some news. 

1.) He lives across the country

2.) He is looking to sell within this year and offer me something off the market

3.) He mentioned his current mortgage and rent rates are roughly break even

My question to you guys is how would you suggest I approach this offer? It is a condo that is directly above me, which makes it easier to manage. Would seller financing be an option appealing for both of us? Conventional? Or how would you guys approach this scenario?

I haven't looked there, I will check out that area now. Thanks for your input!